The Hindu Business Line : Betting on futures

The stock price of the company gained 4.73 per cent at Rs 43.15 on the BSE with volumes of 2.34 crore shares; on the NSE, it closed at Rs 43.25, up 4.98 per cent, with volumes of 8.07 crore shares.

Dealers said the rise in the stock price was on possibility of inclusion of the stock in derivatives list. The talk is that the stock could be included in the futures and options list from next month.

Interest in the stock is also on expectation that the company is to continue the growth in the current quarter and for the financial year as well.

There is talk that the company could come in the dividend list this financial year and most likely an interim-dividend would be announced after September quarter results.

Concrete gains on strong orders

CONSTRUCTION company Simplex Concrete Piles has been witnessing buying interest over the last few days.

Due to that, the stock has gained 35 per cent in the last one week.

On Friday, the stock was locked in the 5-per cent upper circuit band on the BSE and the NSE. It closed at Rs 123.10 on the BSE with volumes of 7,066 shares; on the NSE, it closed at Rs 121.75 with volumes of 1,151 shares.

The talk is that the company has good order positions of over Rs 2,200 crore. It has orders from Delhi Metro, Nuclear Power Corporations. The company is expected to report good growth in the current fiscal.

Market expects top line of over Rs 1,000 crore in the current fiscal compared to Rs 641 crore in 2003-04.

Fund interest seen

THE stock price of IT company KPIT Cummins on Friday touched a new 52-week high.

It closed at Rs 480, up 4.58 per cent, on the BSE with volumes of 18,792 shares; on the NSE, it closed at Rs 480.80, up 4.24 per cent, with volumes of 1.07 lakh shares.

Dealers said the rise in the stock price on Friday was due to buying by a mutual fund.

This fund is understood to have bought a major portion of the shares traded on Friday on the NSE.

The talk is that the company is performing well and is expected to show good growth in the current fiscal.

Virendra Verma

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